Share this article
On August 10
th, China General Chamber of Commerce – U.S.A. (CGCC) and NavPac Advisors, LLC co-hosted the China-U.S. Enterprises Philadelphia Luncheon on Trade and Investment Cooperation at the Union League of Philadelphia. Consul General of China in New York Zhang Qiyue, Lieutenant Governor of Pennsylvania Mike Stack, CGCC Chairman and President and CEO of Bank of China U.S.A Xu Chen, Secretary of Pennsylvania Department of Community and Economic Development Dennis M. Davin attended the event and delivered speeches, joined by over 100 guests from the local government and U.S.-China business communities.Several CGCC members shared their experiences of investing and operating in the U.S. at the luncheon. Member of the Board & Senior Advisor to the Chairman of China Construction America the Honorable James Simpson, Chairman of US Management Committee of ICBC and Vice Chairman of CGCC Xiao Yuqiang, and Chairman of COSCO Americas and Vice Chairman of CGCC Zhang Guofa introduced their companies and development strategies in the U.S., respectively. Representatives from other CGCC members including Bank of China New York Branch, China Unicom Americas, China Merchants Bank New York, East West Bank, State Grid, EY, Greenberg Traurig LLP, JP Morgan, Wells Fargo Bank, Stellar Services, Fuling Plastic USA, and Gemdale USA also joined the discussion.
Ambassador Zhang called for closer cooperation between Chinese enterprises and Philadelphian and Pennsylvania companies. “Entrepreneurs from China and U.S., the two biggest economies of all, should make joint efforts to foster a stronger and healthier trade and investment cooperation, bilaterally as well as globally. Chinese enterprises are eager to cooperate with their Philadelphian & Pennsylvania counterparties, and a healthy bilateral economic relation is not only good for our two people, but also good for the whole world. The Chinese Consulate in NY is committed and will continue to build more bridges between Chinese and American entrepreneurs.”
Lt. Gov. Stack echoed with Ambassador Zhang, saying that a regular basis for America and China to communicate with each other would be beneficial to both countries. He highlighted Fuling Plastic USA, a CGCC member and the first Chinese company investing in Philadelphia, in his speech and said that the state government of Pennsylvania look forward to advancing the cooperation with Chinese enterprises.
Chairman Xu highlighted CGCC members’ contributions to Chinese investment in the U.S. in his speech. “U.S. is the leading recipient of Chinese funds and CGCC members contributed to some of the largest investment deals. Allow me to simply name two 2016 high profile acquisitions here: Qingdao Haier purchased GE Appliances for $5.6 billion, and Dalian Wanda acquired Legendary Entertainment for $3.5 billion.”
Founded in 2005, the China General Chamber of Commerce – U.S.A. (CGCC) is a nonprofit organization representing Chinese enterprises in the United States. Our mission is to promote Chinese investment in the U.S., support the legal rights and interests of our members, and enhance cooperation between Chinese and U.S. business communities. The CGCC’s extensive membership includes numerous companies from both China and the United States, including 40 Fortune 500 companies. The CGCC is the foremost representative of Chinese businesses in the United States.
Photo credit: China News | Deng Min